Textron — Jul 28, 2026 release

Three Months Ended Six Months Ended July 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025 Net income - GAAP $ 248   $ 245   $ 468   $ 452   Add: LIFO inventory provision 41  38  80  67  Intangible asset amortization 7  8  15  16  Special charges —  4  —  4  Total adjustments 48  50  95  87  Income taxes on adjustments (13) (14) (24) (23) Total adjustments, net of tax 35   36   71   64   Adjusted net income - Non-GAAP $ 283   $ 281   $ 539   $ 516   Diluted earnings per share - GAAP $ 1.42   $ 1.35   $ 2.67   $ 2.48   Add: LIFO inventory provision, net of tax 0.17  0.16  0.34  0.28  Intangible asset amortization, net of tax 0.03  0.03  0.06  0.06  Special charges, net of tax —  0.01  —  0.01  Adjusted diluted earnings per share - Non-GAAP $ 1.62   $ 1.55   $ 3.07   $ 2.83   2026 Outlook Diluted EPS Net income - GAAP (a) $ 940   $ 975   $ 5.39   $ 5.59   Add: LIFO inventory provision, net of tax 150 0.87 Intangible asset amortization, net of tax 25 0.14 Adjusted net income - Non-GAAP (a) $ 1,115   — $ 1,150   $ 6.40   — $ 6.60   (a) The company's current full year outlook assumes receipt of additional fiscal year 2026 funding on the MV-75 Cheyenne program through an Above Threshold Reprogramming request. Absent the receipt of any additional funding and inclusive of other outlook assumptions, our adjusted EPS could be negatively impacted by $0.20 to $0.30 and cash flow could also be negatively impacted by $150 million to $250 million. TEXTRON INC. Non-GAAP Financial Measures and Outlook (Continued) (Dollars in millions, except per share amounts) Manufacturing Cash Flow Before Pension Contributions and Outlook Manufacturing cash flow before pension contributions adjusts net cash from operating activities (GAAP) for the following: • Deducts capital expenditures and includes proceeds from insurance recoveries and the sale of property, plant and equipment to arrive at the net capital investment required to support ongoing manufacturing operations; • Excludes dividends received from Textron Financial Corporation (TFC) and capital contributions to TFC provided under the Support Agreement and debt agreements as these cash flows are not representative of manufacturing operations; • Adds b